-11.77(-0.05%)

+9.57(+0.15%)

JPMorgan likely to lead Chrysler IPO: CNBC

A sign stands in front of the JPMorgan Chase & Co bank headquarters building in New York, March 15, 2013. REUTERS/Lucas Jackson

(Reuters) - JPMorgan Chase & Co (JPM) is likely to lead the underwriting of Chrysler Group LLC's initial public offering, CNBC reported late on Wednesday, citing a person familiar with the offer.

An IPO would bring to a head the battle between Sergio Marchionne, who leads both Chrysler and its main shareholder Fiat SpA (MIL:F), and a healthcare trust fund affiliated with the United Auto Workers union.

Chrysler plans to file documents this month that would allow its minority investor to sell shares in a stock market listing, a process that will slow Fiat's plans to take full control of the U.S. automaker.

The trust, a type known as a voluntary employees' beneficiary association or VEBA, is unhappy with the price Fiat has offered for its Chrysler stake and is exercising its right to push Marchionne to take Chrysler public.